Global Power Transmission Towers and Cables Market to Reach US$14 bn by 2023, Increasing Demand for Electricity to Drive Growth
Transparency Market Research (TMR) has recently published a report on the global power transmission towers and cables market, according to which, the market is projected to expand at a healthy CAGR of 7.15% during the period from 2015 and 2023.The research report, titled “Power Transmission Towers and Cables Market - Global Industry Analysis, Size, Share, Growth Trends and Forecast 2015 - 2023,” estimates the market to increase from an overall value of US$7.6 bn in 2014 to US$14.0 bn by the end of the forecast period.
Browse the full Power Transmission Towers and Cables Market, By Type (Power Transmission Towers and Power Transmission Cables) - Global Industry Analysis, Size, Share, Growth Trends and Forecast 2015 - 2023 report at https://www.transparencymarketresearch.com/power-transmission-towers-cables-market.html
Power transmission towers and cables are integral components of the global power transmission infrastructure that are utilized in transmitting and distributing electricity from power generation units to end users. These transmission towers are of different designs, made up of various materials such as lattice, concrete, wood and steel and are used to carry transmission lines, including heavy cables and conductors and at an appropriate height from the ground.
The global market for power transmission towers and cables has witnessed significant growth in the recent times on account of the increasing demand for electricity across the world. The rising need to replace old power transmission infrastructure from the advanced version is also influencing this market significantly. In addition to this, the growing share of renewable energy sources in the overall power generation mix is likely to boost this market significantly during the forecast period, states the research report.
The study analyzes the worldwide power transmission towers and cables market on the basis of the type and the regional distribution of this market. By the type, the market has been classified into towers and cables. The power transmission cables segment dominated the worldwide market, in 2014, with a share of more than 70% in the market.
The report segments the global power transmission towers and cables market into North America, Latin and Central Americas, Asia Pacific, Europe, the Middle East and Africa. Europe, North America, and Asia Pacific have emerged as the leading regional markets for power transmission towers and cables, accounting for more than 70% of the overall market. In 2014, Asia Pacific dominated the global market with a share of more than 35% while North America acquired a share of 20% in the overall market. Analysts at TMR expect the Asia Pacific market for power transmission towers and cables to register the fastest growth rate during the forecast period, closely followed by the Middle East and Africa.
China and India lead the power transmission towers and cables market in Asia Pacific, whereas the U.K. and Germany dominate the market in Europe. The North America market is led by the U.S., notes the market study.
General Cable Technologies Corp., Southwire Co. LLC, Zhejiang Shengda Steel Tower Co. Ltd., KEC International Ltd., Kalpataru Power Transmission Ltd., Nexans S.A., Prysmian S.p.A., Shandong Dingchang Tower Co. Ltd., Nanjing Daji Iron Tower Manufacturing Co. Ltd., and Sumitomo Electric Industries Ltd. are the key manufacturers of power transmission towers and cables in the global arena, states the research report.
The global power transmission towers and cables is segmented into:
- Power Transmission Towers
- Power Transmission Cables
- North America
- Latin and Central Americas
- Asia Pacific
- Middle East and Africa
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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